TaxJar Sales Tax Guide For Amazon Sellers

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Taxes have always been among the most difficult tasks to complete regardless of whether you’re running a business or not. More so if you don’t have any experience in accounting or finance. Tax-related tasks can be overwhelming, especially when your whole day is packed with things to do. When you’re not able to afford enough money to hire an accountant, performing the task on your own can be risky. If you overlook one thing and you don’t know it, you may have to redo things again!

Almost everyone wants to skipping this step. But since it’s required to be done, we can’t choose not to.

So , what can we do ?

We can simplify our lives by using tools like TaxJar.

This article will take a look at this popular life-saving device and how it can benefit you. Even though this is lengthy, you should be able to gauge whether TaxJar is exactly what you need today.

Do you prefer to watch videos instead? Watch this video – by Marcus Stonelius on YouTube they also do a full analysis of TaxJar’s features.

But for those who prefer to read, then we’ll dive right into.

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What is TaxJar? TaxJar Sales Tax Guide For Amazon Sellers

Founded in 2013, TaxJar is an application that automatizes your filings, reports, and sales tax calculations. It is a solution for your entire sales tax life cycle. Additionally, you can use it in all of your channels of sales to ensure compliance with sales taxes. It streamlines processes that can take days to complete, and can be completed in a matter of just a few minutes.

TaxJar has been used in various industries like food and beverage businesses, SaaS, retail, services and even medical establishments.

How can it help you?

TaxJar is used extensively by business owners who run online businesses to make their business more neat and simple. Let’s explore the benefits and features of TaxJar.

TaxJar Sales Tax Guide For Amazon Sellers

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Services and features

Integration

One of the first things you’ll need to ensure you have a tax accounting software seamlessly works well in conjunction with the sales channels you use. If you’re using multiple sales channels, it is essential to maintain everything in line. The final thing you would like is to face a penalty due to overlooking just one minor detail.

TaxJar allows you to show your most important metrics in one place. This means that there is no need to gather data in multiple channels and organize it into one platform. All you have to do is to integrate TaxJar then the system will handle the rest.

In addition, TaxJar also integrates with other platforms that can help with payment processing. Here’s a list of the platforms they are able to integrate with:

  • Xero
  • Amazon
  • Magento
  • BigCommerce
  • Shopify
  • Walmart
  • eBay
  • WooCommerce
  • Square
  • Etsy
  • Stripe
  • PayPal

Filing

TaxJar allows clients to make sales tax filings manually or through TaxJar’s AutoFile feature. In this review, we’ll look at both.

If you opt to manually file your tax returns, TaxJar will allow you to connect your sales platforms. Once the time comes for filing income tax returns TaxJar will train you on managing them. But, it is up to you and your team to complete the process in time. TaxJar is only there to provide guidance on what you should do but not handle it.

If you would prefer an Auto file, TaxJar will do the filling – that means you won’t need to fill out the forms in a manual manner. Through this feature, everything will be automated from calculating sales taxes to recording and processing them. However, there might be extra fees if not part of the plan you choose.

Sales Tax Reports

As mentioned earlier that you can utilize TaxJar to ease your accounting woes. Your orders from your e-commerce channels can be put together into a single dashboard via this platform. From there you and your team will have access to everything you require, including an inventory of your transactions, reports, as well as information.

The best part about this option is the fact that they allow you to automatically update every day. They not only let to know the amount you’ve earned however, they can also help you keep track of when the next payment is due.

Their dashboard also allows you to see the overall sales taxes in your business. You can also export the information to the form of a CSV file if you need it for your financial planning and accounting processes or if your team requires it for central reporting.

Streamlining and Training

TaxJar helps organize and keep the track of all the channels you sell through. It means you don’t need to search for your documents when you need them in the event of a need. Even even if you already have an accounting firm, the feature will aid them in being more efficient.

Additionally, knowing the figures for the sales tax you pay in advance will allow you to allocate your money more efficiently. You’ll know better how much budget you have available for other operational expenses.

The best part is that TaxJar provides training and tutorials and tutorials, not just for their platform , but also everything connected to sales tax. You can look through their webinars, guides and blog for more info. Apart from that the sales tax calculator can be useful if you’re planning to do everything on your own.

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How much does TaxJar cost?

We understand how important it is to determine your budget. Some platforms offer superb features, but they can be too costly for the business you run. This is why in this section we’ll examine TaxJar’s pricing structures and what each of those plans can offer. Currently, TaxJar offers three plans including Professional, Starter and Premium.

Starter

The Starter plan starts at $19. The company claims that it’s the most effective plan for those who need assistance with filing requirements or reporting. It includes taxes on sales and sales as well as four autofiles for free each year, and a CSV import. Even with the starter plan, you can access their AI tax advice.

If you’re a small-scale business manager, the plan could be ideal for you. It may not offer all the features offered by TaxJar but it comes with all the basics you require.

In addition, you can reach their customer support via their support chart for email. You’ll also be able to use their integration tools.

Professional

If you’re looking for something different from the basics and options, then the Professional plan may be the best option for you. It starts at $99, but you can increase it if you add custom features.

How different is it from the original plan?

Apart from having access to each of Starter plan’s features, you also get access to the support of their customer service via phone Access to APIs, phone support, and sophisticated CSV import. You can also receive 12 free AutoFiles every year.

Premium

If you own a huge enterprise, you may want to go for an upgrade instead. It has all of the features needed to help with your taxes. In addition, they offer unlimited data import integrations as well as API integrations, team members as well as AutoFiles.

They also have a team dedicated in managing your accounts. However, they don’t disclose how much the Premium plan costs you. TaxJar Sales Tax Guide For Amazon Sellers

However, they did say that this plan is customized for every user. The cost of the plan will be different depending on what you need for your company.

Free Trial

It’s a good thing that you don’t have to bet your life on it to find out if the platform is right for you. If you’re still looking into various options, they provide 30 days of free trial. This should give you enough time to gauge whether the service is a good fit for you.

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Pros and Pros and

We’ve covered everything you must be aware of TaxJar Let’s relax. In order to sum up the whole thing Here are the advantages and disadvantages of making use of TaxJar to run your business.

Pros

  • There is a Tax Advisor option for some plans
  • AutoFile features can help you save time
  • Available in most USA states
  • Offers on the internet for sales tax calculator.
  • Support service team
  • The dashboard is easy to navigate
  • The company offers a 30-day trial for free.
  • It is possible to integrate it with other platforms.
  • It allows you to monitor multiple sales channels

Cons

  • AutoFile limit is based on the plan
  • AutoFile has extra fees
  • Certain countries will not be able to access the API feature
  • Only applicable for USA customers
  • Needs accountants and owners to recheck local legislations

The Final Verdict

With everything laid down, TaxJar provides a fantastic platform to companies that have numerous sales channels, and that utilizes plenty of platforms. If this sounds like the way you’re doing, then ought to try this.

Not only will it assist you in keeping track of your revenue and products It can help you meet your deadlines. It is also a great platform for an accountant since they have a Tax Advisor program. You can find tips and get knowledge from their seminars regarding taxes via it.

Utilizing TaxJar can help you get more done while keeping on top of each deadline or requirement you need to fulfill. If you’re living in an area with complex tax regulations, this will certainly help you to get your head around it. TaxJar Sales Tax Guide For Amazon Sellers

However, if managing your taxes is simple, then TaxJar could be a waste of expense. If you only have one or two channels for sales, TaxJar won’t be needed to keep track of all of it. If you find the entire process easy to do, you might be better in doing it all on your own.

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FAQ TaxJar Sales Tax Guide For Amazon Sellers

Which areas does TaxJar provide API assistance?

TaxJar currently supports countries like those of the United States, the EU, Australia, and Canada.

Do I have the ability to integrate Shopify with TaxJar?

Yes. You can link your Shopify account to TaxJar for easier monitoring and updates.

Can I convert any type of currency with TaxJar?

Unfortunately, no. TaxJar doesn’t convert currency values. All of the transactions’ amounts are in USdollars. If you’re using another currency, you’ll need to convert it to USdollars prior to when TaxJar determines the tax.

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